Embattled Pharma Exec Pleads Not Guilty to New Charge - NBC Connecticut
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Embattled Pharma Exec Pleads Not Guilty to New Charge

Shkreli's attorney has said the securities fraud prosecution is based on a "flawed theory"

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    Pharmaceutical chief Martin Shkreli smiles on Capitol Hill in Washington, Thursday, Feb. 4, 2016, during the House Committee on Oversight and Reform Committee hearing on his former company's decision to raise the price of a lifesaving medicine.

    A pharmaceutical executive who came under fire for jacking up the price of a lifesaving malaria medication has pleaded not guilty to new charges in his securities fraud case.

    Martin Shkreli appeared Monday in federal court in New York City. He declined to speak to reporters as he left the courthouse.

    A revised indictment filed last week alleged Shkreli and his former attorney Evan Greebel schemed to defraud potential investors of his former drug company Retrophin Inc., based in San Diego. Greebel also pleaded not guilty Monday.

    Shkreli Dismissed From Hearing

    [NATL] Shkreli Dismissed From Hearing
    After refusing to testify on Thursday in an appearance before US lawmakers, former pharmaceutical CEO Martin Shkreli was dismissed less than an hour into his hearing.
    (Published Thursday, Feb. 4, 2016)

    Prosecutors said the two allocated company stock to seven employees to conceal Shkreli's ownership of it.

    Before his arrest, Shkreli already was reviled because another drug company he owned raised the price of Daraprim by 5,000 percent.

    Shkreli's attorney has said the securities fraud prosecution is based on a "flawed theory." Greebel's lawyer had no comment.

    A trial is expected early next year.